Quantum (NASDAQ:QMCO) Trading Up 6.6% – Still a Buy?

Quantum Corporation (NASDAQ:QMCO)’s share price shot up 6.6% during trading on Monday . The company traded as high as $23.81 and last traded at $23.73. Approximately 438,846 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 970,488 shares. The stock had previously closed at $22.26.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Northland Securities raised shares of Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 target price on the stock in a report on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum in a report on Wednesday, June 24th. Needham & Company LLC began coverage on shares of Quantum in a research report on Wednesday, June 3rd. They set a “buy” rating for the company. Wall Street Zen raised shares of Quantum from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Litchfield Hills Research began coverage on shares of Quantum in a research note on Monday, August 10th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Quantum Price Performance

The company has a market cap of $929.29 million, a price-to-earnings ratio of -1.78 and a beta of 2.97. The firm’s fifty day moving average price is $14.41 and its 200-day moving average price is $10.10.

Quantum (NASDAQ:QMCO) last released its quarterly earnings data on Monday, August 10th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.35. The firm had revenue of $80.80 million during the quarter, compared to analyst estimates of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. As a group, equities analysts forecast that Quantum Corporation will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quantum

Several large investors have recently made changes to their positions in QMCO. Geode Capital Management LLC boosted its position in shares of Quantum by 9.1% during the second quarter. Geode Capital Management LLC now owns 69,384 shares of the company’s stock worth $692,000 after buying an additional 5,806 shares during the period. Marshall Wace LLP acquired a new stake in Quantum in the 2nd quarter valued at approximately $1,775,000. Raymond James Financial Inc. acquired a new stake in Quantum in the 2nd quarter valued at approximately $46,000. Vanguard Group Inc. raised its stake in Quantum by 18.3% during the 3rd quarter. Vanguard Group Inc. now owns 303,597 shares of the company’s stock valued at $3,012,000 after acquiring an additional 46,919 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Quantum by 322.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,461 shares of the company’s stock valued at $34,000 after acquiring an additional 2,641 shares in the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.

Quantum Company Profile

Quantum Corporation (NASDAQ: QMCO) is a technology company that develops and delivers data management and storage solutions for businesses and organizations worldwide. The company’s product portfolio includes hardware, software and cloud-based offerings designed to address backup, archive, primary storage and long-term retention needs. Quantum’s solutions are geared toward data-intensive environments such as media and entertainment, surveillance, government, education and healthcare, where large volumes of digital content must be reliably stored, managed and accessed.

Quantum’s flagship products include the StorNext® data management platform, which provides high-performance shared file storage and workflow acceleration, and the DXi® series of deduplication appliances, which optimize backup and recovery by reducing storage footprints and data transfer times.